Generation Next Fashion, a listed apparel maker in Bangladesh, is struggling to continue operations due to labour unrest and a working capital shortage amid the absence of its top leaders, according to a disclosure on the Dhaka Stock Exchange (DSE).

Tauhidul Islam Chaudhury, chairman of Generation Next, has been absent from duty ever since the Awami League government was ousted by a mass uprising on August 5.

Tauhidul is married to Saida Muna Tasneem, who served as Bangladesh's high commissioner in the UK from November 2018 until September 2024. She was also a shareholder of the apparel maker.

In September, the interim government ordered her immediate return to Dhaka as part of an ongoing process to recall envoys appointed by the previous government.

However, Tasneem did not respond to this directive and remains abroad.

On November 3, Shaheen Akther Chaudhury, a director of Generation Next, informed the DSE that they had submitted a letter to the Bangladesh Securities and Exchange Commission (BSEC) on October 20.

In the letter, Generation Next informed the stock market regulator about labour unrest and the stoppage of operations at its factory due to a shortage of working capital.

The director also reported that the company's chairman and its managing director, Rajiv Sethi, have remained out of contact and not be in the country.

"In the absence of the chairman, managing director and other directors, the company is facing several problems, such as an inability to reach decisions in board meetings due to an incomplete quorum," she added.

Generation Next is also unable to conduct banking transactions as the missing officials were the ones who held signatory authority in this regard. Citing these issues, the director sought advice from the BSEC to overcome the crisis.

In the meantime, the factory was shuttered as per a decision made at a meeting of company officials, labour leaders, labour ministry officials and Bangladesh Garment Manufacturers and Exporters Association representatives.

Workers at Generation Next's factory in Ashulia have been protesting over unpaid wages since early September, leading to clashes with law enforcement.

During one of the clashes, Champa Khatun, a 25-year-old worker, was critically injured and later died.

Her death was not the only one linked to the recent spate of labour unrest in Bangladesh's garment sector.

At present, Tauhidul Islam Chaudhury holds 5.13 percent of the company's shares, AJ Corporation holds 6.97 percent and Rajiv Sethi holds 2 percent. Alvee Azfar Chaudhury, another director of Generation Next, holds a 2.12 percent stake and Shaheen Akther Chaudhury holds 0.04 percent.

Although the company has been struggling to maintain operations, Tauhidul's son Javed Opgenhaffen spent millions of US dollars on his wedding, which was staged in Paris last year.